Pulse Mix

KCB Group Plc has recorded a remarkable 49% growth in profit after tax, reaching Sh45.8 billion for the first nine months of 2024, compared to Sh30.7 billion during the same period in 2023.

This growth, driven by robust revenue streams and international business diversification, cements KCB’s leadership in East Africa’s financial sector.

The group's revenue surged by 22% to Sh142.9 billion, supported by growth in both funded and non-funded income lines. Subsidiaries outside Kenya significantly contributed, accounting for 36.6% of the profit after tax and 34% of total assets.

Key contributors included Trust Merchant Bank (TMB) in the Democratic Republic of Congo.

On the balance sheet, total assets hit Sh2.0 trillion, while customer deposits grew to Sh1.5 trillion. Net loans and advances increased to Sh1.1 trillion, bolstered by retail sector lending.

<blockquote>“Despite tough market conditions, we’ve maintained our resilience by providing tailored solutions to our customers across the region,” said KCB Group CEO Paul Russo. He highlighted the group's investments in regional trade and community impact as pivotal to its success.</blockquote>

KCB Group PLC CEO Paul Russo reports on Q3 2024 results on November 20, 2024

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<h3>Strategic initiatives and partnerships</h3>

KCB Group continued expanding its impact through notable partnerships:

<ol><li>A €230 million agreement with the European Investment Bank (EIB Global) to support SMEs, women-led businesses, and youth enterprises.</li><li>A strategic collaboration with Invest International to facilitate Dutch entrepreneurs operating in Africa through financing solutions.</li><li>Commitment to sustainability through a USD 540,000 Green Climate Fund for MSME climate projects.</li></ol>

In addition, KCB secured COMESA approval for the sale of National Bank of Kenya to Nigeria's Access Bank, marking a significant milestone in the Group's restructuring.

The group maintained strong capital buffers, with core capital at 16.5% of total risk-weighted assets, surpassing regulatory requirements. Shareholders’ equity grew by 14% to Sh249 billion, driving an improved return on equity of 25.6%.

KCB Group records 49% profit surge to KSh45.8 Billion in Q3 2024

Notably, KCB’s NPL ratio stood at 18.5%, reflecting challenging economic conditions. Provisions for non-performing loans increased by 12.2%, underlining the group’s prudent approach to asset quality.

KCB was ranked among Kenya's top three most valuable brands by Brand Finance. Other awards included Best Banking Group Kenya (Finance Derivatives Awards) and Best in Customer Excellence (Tier 1).

With improving market conditions and a focus on innovation and sustainability, KCB Group anticipates a strong year-end performance.

Group Chairman Dr Joseph Kinyua emphasised the bank’s dedication to robust governance and sustainable business practices, reinforcing its commitment to delivering shareholder value.

#FeatureByKCBGroup

#FeatureByKCBGroup - KCB Group Plc has recorded a remarkable 49% growth in profit after tax, reaching Sh45.8 billion for the first nine months of 2024, compared to Sh30.7 billion during the same period in 2023.

KCB Group PLC CEO Paul Russo reports on Q3 2024  results on November 20, 2024

KCB Group records 49% profit surge toSh45.8 billion in Q3 2024

Amos Robi

<ul><li>Kenyan mountaineer Cheruiyot Kirui tragically passed away while attempting to summit Mt. Everest without supplemental oxygen</li><li>Recovering a body from Mt. Everest is a massive logistical challenge</li><li>Despite preservation by cold, bodies are still subject to natural elements such as high winds, ice, and snow</li></ul>

Kenyan mountaineer Cheruiyot Kirui, who tragically passed away while attempting to summit Mt. Everest without supplemental oxygen, may not have his body recovered from the mountain.

Kirui's body was found a few meters below the summit point of Mt. Everest. A Nepali climber, Nawang Sherpa, who had accompanied Kirui, was still missing at the time of this article's publication.

As Kirui's loved ones mourn, they may face the heartbreaking reality that his body may never be recovered for burial.

Kirui had ascended past 8000 meters (26,247 feet) above sea level, a zone known as the death zone.

Last moments of Cheruiyot Kirui who has died trying to climb Mt Everest

READ: <a href="https://www.pulselive.co.ke/news/local/last-moments-of-banker-cheruiyot-kirui-who-has-died-on-mt-everest-photos/dbnvz34">Last moments of Cheruiyot Kirui who has died on Mt Everest [Photos]</a>

This area presents climbers with extreme challenges, including cold temperatures, dangerously low oxygen levels, and inhospitable conditions.

As climbers ascend into this zone, they must vigilantly monitor their physical well-being and mental state to mitigate the risks.

<h3>Challenges of recovering bodies from Mt. Everest danger zone</h3>

Recovering a body from Mt Everest's peak is a massive logistical challenge, requiring a well-coordinated team of <a data-link-role-code="open_new_tab" href="https://www.pulselive.co.ke/bi/tech/what-happens-to-your-body-in-mount-everests-death-zone-where-11-people-died-in-the/47tqybm" title="Why Cheruiyot Kirui's body could be left on Mt. Everest after tragic adventure">climbers and specialised equipment.</a>

The process can take days or even weeks, depending on the body's location and the mountain's conditions.

Each additional person and piece of equipment increases the mission's risk and complexity.

READ: <a href="https://www.pulselive.co.ke/travel/62-year-old-james-conquers-mt-everest-worlds-tallest-mountain-photosandvideo/m9dt4dc">62-year-old Kenyan conquers Mt Everest, world's tallest mountain [Photos&amp;Video]</a>

The extremely cold temperatures on Everest help preserve bodies, preventing decomposition.

Subzero conditions, often reaching as low as -60 degrees Celsius (-76 degrees Fahrenheit), ensure preservation for many years, with bodies remaining almost perfectly intact decades after climbers' deaths.

<h3>How much it costs to recover bodies from Mt. Everest</h3>

Despite the danger of recovering bodies of those that die on Mt Everest, some are still recovered although at an expensive cost.

The cost can vary widely depending on factors such as the location of the body, the availability of skilled personnel, and the equipment required for the mission.

The range as of 2016 was estimated to cost between $30,000 and $70,000.

<h3>Why helicopters cant be used to recover dead bodies from Mt.Everest</h3>

While helicopters are commonly used in search and rescue operations in mountainous regions, they are not a feasible option for recovering bodies from the death zone of Mt. Everest. Several factors contribute to this limitation:

<ol><li>Altitude: Helicopters struggle to operate effectively at the extreme altitudes found on Everest. The thin air makes it difficult for helicopters to generate lift, reducing their carrying capacity and range.</li><li>Temperature: The bitterly cold temperatures on Everest can cause helicopter engines to malfunction or freeze, posing a significant risk to both the aircraft and the crew.</li><li>Wind: High winds are common on Everest, especially in the death zone, making helicopter operations even more hazardous. Strong gusts can buffet helicopters, making it challenging to maintain control and stability.</li><li>Limited Landing Sites: The rugged terrain and lack of suitable landing sites in the death zone further complicate helicopter operations. Pilots must contend with narrow ridges, steep slopes, and crevasses, making it nearly impossible to land safely.</li></ol>

Climbers and sherpas on Mt. EverestBusiness Insider

Given the limitations of helicopters, alternative methods are often employed to recover bodies from Mt. Everest. These may include:

<ol><li>Sherpa teams: Experienced Sherpa climbers are often enlisted to retrieve bodies from high-altitude locations. Their expertise in navigating the mountain's terrain and their resilience to the harsh conditions make them invaluable assets in recovery efforts.</li><li>Manual carrying: In some cases, bodies may be manually carried down from the death zone by teams of climbers. This arduous process involves securing the body in a stretcher or harness and carefully descending the mountain while avoiding hazards such as crevasses and avalanches.</li><li>Airlifts from lower altitudes: Helicopters may be used to airlift bodies from lower altitudes, where the air is denser and conditions are less extreme. However, this approach is limited by the altitude at which helicopters can safely operate and may not be feasible for bodies located in the death zone.</li></ol>

<h3>Relocation of bodies on Mt. Everest </h3>

Glacial movement and avalanches can relocate bodies from their original locations, carrying them to lower altitudes or different areas of the mountain.

Bodies may reappear years after being lost due to glacial movement. Despite preservation by cold, bodies are still subject to natural elements.

High winds, ice, and snow can gradually erode and damage bodies over time, along with clothing and equipment.

READ: <a href="https://www.pulselive.co.ke/bi/tech/what-the-top-of-mount-everest-is-really-like-according-to-the-woman-whos-been-there-a/kxc116z">What the top of Mount Everest is really like, according to the woman who's been there a record-breaking 9 times</a>

<h3>Mountaineer&nbsp;Cheruiyot Kirui's legacy</h3>

Before his tragic Mt. Everest expedition, Kirui participated in several mountaineering expeditions, including climbing Mt. Kenya 15 times.

His Instagram feed reflected his passion for mountaineering, evident in numerous posts.

A detailed explainer of why bodies of people who die on Mt Evarest are never recovered

The late Kenyan mountaineer Cheruiyot Kirui

Why Cheruiyot Kirui's body could be left on Mt. Everest after tragic adventure

Kenya's brand landscape is ever-evolving, reflecting the dynamic nature of its economy and the strategic initiatives undertaken by leading companies.

The latest 'Brand Finance Kenya 25 2024' report highlights the top most valuable brands in Kenya, providing insights into their brand value and the factors driving their success.

Below, we delve into the top brands, exploring their achievements and the strategic moves that have bolstered their brand value.

Equity Bank retains its position as the most valuable Kenyan brand, with a brand value increase of 1 per cent to Sh65.8 billion.

Despite challenging economic conditions marked by increased loan loss provisions, the bank's robust growth in interest income underscores its resilient revenue-generating capability and strategic financial management.

Telecommunications company Safaricom saw a decline in brand value by 33.3 per cent to Sh58.1 billion.

Despite this decrease, Safaricom remains a formidable player in the market, with a strong presence and significant influence.

The brand's continued investment in innovative services and customer-centric solutions ensures it maintains a competitive edge in the telecom sector.

<h3>3. Kenya Commercial Bank (KCB) - Sh50.4B </h3>

Kenya Commercial Bank (KCB) increased its brand value by 8.2 per cent to Sh50.4 billion. KCB's strategic initiatives, including digital innovation and enhanced customer services, have strengthened its market position.

Brand Value: KES 26.5 billion M-Pesa, a commercial service provider, saw a 6.4% decline in brand value to KES 26.5 billion. Despite the drop, M-Pesa remains a vital financial service in Kenya, known for revolutionizing mobile money transfers and financial inclusion. The brand continues to innovate, offering new services and expanding its reach to maintain its relevance in the market.

<h3>5. Co-Operative Bank of Kenya - Sh21.7B</h3>

Co-Operative Bank of Kenya experienced a slight decline in brand value by 2.2 per cent to Sh21.7 billion.

The bank's continued focus on cooperative banking and community engagement has solidified its reputation and customer loyalty.

Co-operative Bank Headquarters in Nairobi

NCBA Bank achieved a remarkable 44 per cent increase in brand value to Sh19.7 billion, making it one of the fastest-growing brands.

The bank's strategic initiatives, such as digital banking solutions and customer-centric services, have significantly boosted its brand equity.

<h3>7. Kenya Power &amp; Lighting Company (KPLC) - Sh15.9B</h3>

Kenya Power &amp; Lighting Company (KPLC) saw a slight decline in brand value by 1.5 per cent to Sh15.9 billion.

Despite facing challenges in the utility sector, KPLC's commitment to improving service delivery and infrastructure has maintained its relevance and customer trust.

Kenya Airways reported a significant 38 per cent increase in brand value to Sh6.4 billion. The national carrier's strategic measures, including increasing passenger traffic and forming partnerships with other airlines, have contributed to its improved performance.

Despite ongoing financial challenges, Kenya Airways' efforts to enhance its operations and customer experience are reflected in its rising brand value and A rating.

Tusker, a leading beer brand, experienced a 12.3 per cent decline in brand value to Sh5.8 billion.

Despite the drop, Tusker remains a popular choice among consumers, known for its strong brand heritage and quality.

The brand continues to engage in marketing and promotional activities to maintain its market presence.

<h3>10. I&amp;M Bank - Sh5.6 billion</h3>

I&amp;M Bank saw a decline in brand value by 15.1 per cent to Sh5.6 billion. The bank's rating indicates its ongoing efforts to enhance its service offerings and customer engagement.

I&amp;M Bank's focus on innovation and strategic growth initiatives positions it for future success in the competitive banking sector.

Brand Finance uses a method to figure out how valuable a company's brand is. They do this by looking at a few important things:

They check how much money other companies are paying to use similar brands.

They also see how much more money a company makes because of its brand compared to others in the same business.

They use a score called the Brand Strength Index to measure how strong a brand is.

This score looks at things like what the company does to make its brand better, what people think about the brand, and how well the brand is doing in the market.

<h3>3. Brand impact multiplied by brand strength</h3>

They predict how much money the brand will make in the future based on its strength. Then, they use this prediction to find out how much the brand is worth today.

Brand Finance determines the value of a company's brand through a method that assesses its impact and strength.

They analyze factors like royalty agreements and brand performance to gauge its worth.

Additionally, they consider enterprise value, which is the total worth of the company including all its brands, as well as the branded business value, brand contribution, and brand value itself.

Safaricom was overtaken by Equity Bank and emerged second in the ranking which saw banks take half of the spots

A collage of a Kenya Airways plane, Equity Bank and Kenya Power

Banking sector takes 5 of  Kenya's 10 most valuable brands in 2024 [Full List]

Denis Mwangi

The family of former President Uhuru Kenyatta&nbsp;is set&nbsp;to receive a staggering Sh1.03 billion.

This windfall stems from dividends accrued through their investments in NCBA Group following the&nbsp;bank's&nbsp;successful performance in the last financial year.

NCBA Group is disbursing a total of Sh7.8 billion in dividends following a year of solid performance.

The group cited enhanced banking performance and informed financial strategies as the core reasons behind their profitable year in which they posted a profit after tax of&nbsp;Sh21.5 billion&nbsp;in the Full Year 2023 results.

This is a 56 per cent increase compared to Sh13.8 billion reported during a similar period in 2022.

According to the bank, shareholders will get a dividend payment of Sh4.75 per share,&nbsp;which is&nbsp;an increase of 11.8 per cent.

The <a href="https://www.pulselive.co.ke/news/uhuru-muhoho-mama-nginas-billions-revealed-as-cba-merges-with-nic/r3needx">Kenyatta family holds a 13.2 per cent stake through Enke Investments</a>. This translates to Sh1.03 billion in dividends.

In FY&nbsp;2022,&nbsp;<a data-link-role-code="open_new_tab" href="https://www.pulselive.co.ke/business/kenyatta-family-pockets-sh924-million-in-ncbas-dividend-payout/83f90lp">the family received Sh924 million</a> from a dividend payout of Sh2.25 per share.

The previous year (FY2021)&nbsp;they&nbsp;got Sh625 million from a dividend payout of Sh3 per share.

In FY2020, the Kenyattas received Sh326 million for Sh1.5 per share.

<table><tr><td colspan="null" rowspan="null"></td><td colspan="null" rowspan="null">Kenyatta Family Dividend Payouts</td><td colspan="null" rowspan="null"></td><td colspan="null" rowspan="null"></td></tr><tr><td colspan="null" rowspan="null">Year</td><td colspan="null" rowspan="null">Dividend per share</td><td colspan="null" rowspan="null">Total dividend received</td><td colspan="null" rowspan="null"></td></tr><tr><td colspan="null" rowspan="null">FY2020</td><td colspan="null" rowspan="null">Sh1.5</td><td colspan="null" rowspan="null">Sh326 million</td><td colspan="null" rowspan="null"></td></tr><tr><td colspan="null" rowspan="null">FY2021</td><td colspan="null" rowspan="null">Sh3</td><td colspan="null" rowspan="null">Sh625 million</td><td colspan="null" rowspan="null"></td></tr><tr><td colspan="null" rowspan="null">FY 2022</td><td colspan="null" rowspan="null">Sh2.25</td><td colspan="null" rowspan="null">Sh924 million</td><td colspan="null" rowspan="null"></td></tr><tr><td colspan="null" rowspan="null">FY 2023</td><td colspan="null" rowspan="null">Sh4.75</td><td colspan="null" rowspan="null">Sh1.03 billion</td><td colspan="null" rowspan="null"></td></tr><tr><td colspan="null" rowspan="null"></td><td colspan="null" rowspan="null"></td><td colspan="null" rowspan="null"></td><td colspan="null" rowspan="null"></td></tr></table>

<h3>Ndegwa family pockets Sh1.17 billion</h3>

The Kenyatta family is the second-largest shareholder after the family of former Central Bank Governor Philip Ndegwa, which owns a 14.94 per cent stake through <a data-link-role-code="open_new_tab" href="https://www.pulselive.co.ke/business/domestic/philip-ndegwas-family-extend-stake-over-the-kenyatta-family-at-ncba/7ybq9g2">First Chartered Securities</a>.

The Ndegwa family is set to pocket Sh1.17 billion in this&nbsp;year’s&nbsp;dividend payout, an increase from last&nbsp;year’s&nbsp;Sh876 million.

&nbsp;In FY2021, Philip&nbsp;Ndegwa's&nbsp;family pocketed Sh580.8 million from their 11.7 per cent shareholding in the bank. In FY2020, the Ndegwas earned Sh290 million from their shares.

<a data-link-role-code="open_new_tab" href="https://www.pulselive.co.ke/business/domestic/kenyatta-family-overtaken-as-top-shareholders-in-ncba/cqtdj5s">First Chartered Securities recently overtook Enke Investments as the top shareholder</a> after purchasing additional shares.

The Ndegwas now hold a stake of 14.44 per cent in the NCBA Group, with the Kenyattas following with 13.2 per cent.

<table><tr><td colspan="null" rowspan="null"></td><td colspan="null" rowspan="null">Ndegwa Family Dividend Payouts</td><td colspan="null" rowspan="null"></td></tr><tr><td colspan="null" rowspan="null">Year</td><td colspan="null" rowspan="null">Dividend per share price</td><td colspan="null" rowspan="null">Total dividends received</td></tr><tr><td colspan="null" rowspan="null">FY2020</td><td colspan="null" rowspan="null">Sh1.5</td><td colspan="null" rowspan="null">Sh290 million</td></tr><tr><td colspan="null" rowspan="null">FY2021</td><td colspan="null" rowspan="null">Sh3</td><td colspan="null" rowspan="null">Sh580 million</td></tr><tr><td colspan="null" rowspan="null">FY2022</td><td colspan="null" rowspan="null">Sh2.25</td><td colspan="null" rowspan="null">Sh876 million</td></tr><tr><td colspan="null" rowspan="null">FY2023</td><td colspan="null" rowspan="null">Sh4.75</td><td colspan="null" rowspan="null">Sh1.17 billion</td></tr></table>

The rise in earnings for both families shows that the&nbsp;bank's&nbsp;performance has been on a consistent upward trajectory, building confidence in its shareholders.

<h3>How other banks performed in 2023</h3>

The banking sector,&nbsp;according to analysts, remains a strong pillar of the Kenyan economy, consistently delivering substantial dividends to its stakeholders and contributing significantly to economic stability.

&nbsp;Kenyan banks had a&nbsp;strong&nbsp;financial performance in the last fiscal year.

&nbsp;Several&nbsp;major&nbsp;banks reported significant profits and increased dividend payouts to shareholders.

&nbsp;Co-op Bank reported a 5 per cent increase in net earnings to Sh23.2 billion, allowing it to recommend a dividend of Sh1.50 per share or an aggregate of Sh8.8 billion.

READ: <a href="https://www.pulselive.co.ke/business/domestic/why-nigerias-access-bank-has-acquired-nbk-years-after-buying-transnational-bank/1pdzr20">Why Nigeria's Access Bank has pumped billions to buy 2 Kenyan banks in last 4 years</a>

This was a relief to investors as another&nbsp;major&nbsp;bank, KCB,&nbsp;had&nbsp;announced it would not&nbsp;be paying&nbsp;a dividend this year, the first time in 21 years.

A person putting a coin into a savings piggy bank [Image credit: Joslyn Pickens]

Absa Bank Kenya also had a stellar year, with its net profit rising 12.2 per cent to Sh16.3 billion.

The bank declared a record dividend of Sh8.4 billion, representing a 14.8 per cent increase from the previous year.

&nbsp;Equity Bank,&nbsp;despite a 5 per cent drop in profit after tax to Sh43.7 billion, maintained its record dividend payout of Sh15.1 billion, equivalent to Sh4 per share.

The bank attributed the profit decline to its strategic decision to maintain loan interest rates for 32% of its consumer loans to salaried civil servants, teachers and private sector employees at 13 per cent to <a data-link-role-code="open_new_tab" href="https://www.pulselive.co.ke/business/equity-bank-implements-loan-price-hike-following-cbks-move/w8cj4pk">cushion consumers during tough economic times</a>.

I&amp;M Group also increased its dividend for the third straight year, proposing Sh2.55 per share amounting to Sh4.22 billion.&nbsp;This&nbsp;was up from Sh2.25 per share or Sh3.72 billion the previous year.

&nbsp;Overall,&nbsp;the&nbsp;strong&nbsp;financial performance and increased dividend payouts&nbsp;by these Kenyan banks&nbsp;demonstrate their resilience and ability to deliver shareholder value despite the challenging economic environment.

The family of former President Uhuru Kenyatta is set to receive a staggering Sh1.03 billion from their investment in NCBA

Former President Uhuru Kenyatta at N'Djili International Airport in the Democratic Republic of Congo (DRC) on January 19, 2024

Kenyatta family pockets record Sh1 billion pay day

The former Head of Public Service Joseph Kinyua has been appointed a non-executive director at KCB Group PLC.

KCB Group PLC, through a notice by the Company Secretary, Bonnie Okumu, announced the appointment of Dr. Joseph Kinyua, effective March 24.

"The Board of KCB Group Plc, having received regulatory approval, is pleased to announce the appointment of FCS Dr. Joseph Kinyua, EGH to the Board of Directors with effect from 24 March 2023," read the notice in part.

Kinyua has extensive experience in the finance sector, having served in different capacities in both the government and the private sector.

As an economics graduate from the University of Nairobi, Kinyua joined the government in 1980 as a Central Bank of Kenya (CBK) economist and worked his way through the ranks, becoming Director of Research in 1995.

Former Head of Public Service Joseph Kinyua during a past media briefing

Head of Public Service Joseph Kinyua during a past media briefing

He also worked as an economist with the International Monetary Fund (IMF) from 1985 to 1995 before returning to the Central Bank of Kenya.

In 1978, he was appointed as a financial secretary at the Treasury until 1999, when he returned to the Central Bank of Kenya as Director of Financial Markets. In 2000, he was appointed as the Chief Economist for the Central Bank of Kenya and in 2002, he was appointed as the PS in the Ministry of Finance.

In 2003, he was appointed Planning PS and later Agriculture PS. In 2004, he was appointed Finance PS and in 2013, he was appointed head of public service by President Uhuru Kenyatta.

In addition, he has acted as an Alternate Governor on the Board of Governors of the World Bank and as a member of the Programme Committee of the African Economic Research Consortium (AERC).

Former Head of Public Service Joseph Kinyua during a past meeting

Head of Public Service Joseph Kinyua during a past meeting

Kinyua <a href="https://www.pulselive.co.ke/news/local/end-of-an-era-as-ex-head-of-public-service-joseph-kinyua-retires/032be0x">was succeeded as Head of Public Service by Felix Koskei</a>, who was appointed by President William Ruto.

Kinyua's appointment to the KCB Group PLC board is expected to enhance the group's strategic decision-making and boost its growth. The KCB Group is one of the leading financial institutions in East Africa, and Kinyua's wealth of experience is expected to be a valuable asset to the board.

The former Head of Public Service Joseph Kinyua has been appointed a non-executive director at KCB Group PLC.

Former Head of Public Service Joseph Kinyua

Ex-Public Service boss Joseph Kinyua lands new appointment at KCB Group

Research firm Ipsos in partnership with business advisory consultancy BSD Group has released the 2023 Top 100 brands loved by women.

The top 100 most-loved brands by women list illustrate the dynamic nature of the market, with some brands making significant gains while others experience setbacks.

The biggest winners among the top 100 most-loved brands by women in 2023 include Safaricom, M-PESA, and Airtel, which hold the top three spots respectively.&nbsp;

Attendees during the launch of the Top 100 brands loved by women in 2023

Safaricom, Kenya's leading telecommunications provider, was ranked number one for two years in a row. M-PESA also retained its second spot, with many women preferring it for its convenience, security, and reliability.&nbsp;

Airtel, which also provides telecommunications services, saw a sharp increase in popularity, moving up from its eighth spot in 2022 to its current position.

Equity Bank, which held the fourth spot in 2022, dropped to the fifth position in 2023, while Naivas, one of the leading supermarket chains in Kenya, jumped from its eighth spot in 2022 to the fifth position in 2023, signalling a growing preference for the supermarkets among women.&nbsp;

Samsung, the electronics giant, also saw a notable rise in popularity, climbing from the 14th spot in 2022 to the sixth position in 2023.

In the category of body care products, Nice and Lovely Lotion and Softcare Sanitary products remained popular, holding the seventh and eighth positions respectively.&nbsp;

However, there were significant gains made by other body care brands, such as Nice and Lovely's hair products and equipment, which moved from the 35th spot in 2022 to the 26th spot in 2023.&nbsp;

In contrast, Vaseline, which held the 15th position in 2022, dropped to the 49th position in 2023.

Among healthcare providers, The Aga Khan Hospital maintained its position in 2023, ranking at 24th place. However, other healthcare providers saw a decline in popularity, with Moi Teaching and Referral Hospital dropping from the 28th position in 2022 to the 86th position in 2023.&nbsp;

The biggest losers among the top 100 most-loved brands by women in 2023 include Arimis, which fell from the 5th position in 2022 to the 19th position in 2023.

Similarly, Always, which held the 6th position in 2022, dropped to the 18th position in 2023.&nbsp;

Coca-Cola, which was in the 7th position in 2022, dropped to the 17th position in 2023.

In the category of home cleaning products, Menengai Bar Soap and Dettol maintained their positions in 2023, at the 16th and 68th spots, respectively.&nbsp;

However, Omo Detergent and Sunlight saw a decline in popularity, with Omo falling from the 33rd position in 2022 to the 83rd position in 2023, and Sunlight dropping from the 56th position in 2022 to the 56th unranked position in 2023.

<h3>Swipe the presentation below for full list</h3>

Puzzle as Arimis' popularity dipped from position 5 in 2022 to 19 in 2023

List of top 100 most-loved brands by Kenyan women in 2023

Telecommunications company Safaricom plc has announced the resignation of board chairman John Ngumi five months after he took office.

In a statement released on January 5, 2023, the company said Ngumi’s tenure as the company was seized effective December 22, 2022.&nbsp;

According to Safaricom, Ngumi is leaving the company to focus on developing green energy generation across the continent.

“The board announces the resignation of John Ngumi as a director and consequently as the chairman of the board. The new chairman will be elected by the board of directors in the coming weeks.

READ: <a href="https://www.pulselive.co.ke/news/local/parliament-to-summon-ict-cs-eliud-owalo-over-data-bundle-expiry/k82e1n8">Why MPs are against Bonga Points expiry to be introduced in 2023</a>

“In the brief period, John has provided a wealth of industry knowledge and vast experience. He leaves to focus on developing green energy generation across Africa with an emphasis on green hydrogen,” read the statement by Safaricom.

Ngumi who was appointed to replace former chairman and CEO Michael Joseph has served as the previous <a href="https://www.pulselive.co.ke/bi/finance/kenya-pipeline-company-at-a-loss-to-explain-how-sh24-billion-worth-of-jet-fuel-went/gbyeeh5">Chairperson of the Kenya Pipeline Corporation</a> (KPC) board as well as an inaugural director on the board of the Communications Commission of Kenya and has also chaired the board of the Industrial and Commercial Development Corporation (ICDC).

A first-class graduate of Oxford University, Ngumi boasts of a career spanning over three decades in the finance sector.

Other notable finance institutions Ngumi has worked for include Grindlays Bank now Stanbic Bank, Citibank, Barclays Bank and Standard Bank.

Another change made in the board was the appointment of Adil Arshed Khawaja as a director. Adil was the first chairman of KCB Bank from 2016 until the lapse of his tenure in 2016.